What is the recent purchase price of the Yankee Clipper Hotel in Fort
Lauderdale Florida by Starwood Hotels and Resorts Inc.

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Request for Question Clarification by answerfinder-ga on 24 Aug 2005 09:22 PDT

Dear dan22-ga,

I have found one business newspaper which reports the combined
purchase price for the controlling stake in the two hotels: Sheraton
Yankee Clipper and Sheraton Yankee Trader.

Other newspaper reports state that the terms of the purchase were not
disclosed. Therefore, I am unable to confirm if the first report is
accurate in any way. What are your thoughts? Would you like this
information as an answer?

answerfinder-ga

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Clarification of Question by dan22-ga on 24 Aug 2005 10:28 PDT

That is fine. The information that states the combined purchase price
for the controlling stake in the two hotels is sufficient. Also,
please provide the additional information which states that the terms
of the purchase were not disclosed. Therefore I have both ends
covered. Thank you.

Dear dan22-ga,

Thank you for your clarification. I have additional information now.

I have searched a news database and three search engines (Google,
Yahoo and All the Web) and found two reports which states the price of
the two hotels: Sheraton Yankee Clipper and Sheraton Yankee Trader.

The Daily Business Review reports the price was $89.8 million for the two hotels.

Using the link below go to the second article extract of 6/14/2005.
The full article will cost $6.00.

?Starwood Capital Group has paid $89.8 million for a controlling stake
in the Sheraton Yankee Clipper and Sheraton Yankee Trader hotels in
Fort Lauderdale. The new owner plans to remodel the 500-room Yankee
Clipper. It will eventually demolish the 457?
 http://www.dailybusinessreview.com/search.html?sval=%22starwood+capital%22&search_type=news&byline=&start_date=6%2F1%2F2005&end_date=6%2F29%2F2005

A cheaper copy can be obtained through LexisNexis news database - $2.50.
http://w3.lexis.com/LNE/login_en.asp?lang=en&url=http://web.lexis-nexis.com/executive/

Once you have gone through the preliminary screens use these search
terms (including the quotes) to access the Miami Daily Business Review
article.

?Starwood Capital Group has paid $89.8 million? 

South Florida CEO reports it to be "nearly 90 million"
http://www.findarticles.com/p/articles/mi_m0OQD/is_6_9/ai_n14841827


Other news reports did not supply details of financials and reported
that ?Starwood Hotels & Resorts Worldwide is to manage the oceanfront
properties under its Sheraton brand. It is not known how much Starwood
Capital paid or the value of the management contract to Starwood
Hotels.?
http://austin.bizjournals.com/southflorida/stories/2005/06/13/daily43.html

"Last month, an affiliate of Starwood Capital Group bought the
501-room Sheraton Yankee Clipper and a sister property from Gill
Hotels Inc. for an undisclosed price."
http://www.hotel-online.com/News/2005_Jul_02/k.FLH.1120585216.html

I hope this answers your question. If it does not, or the answer is
unclear, or you have difficulty with the LexisNexis search, then
please ask for clarification of this research before rating the
answer. I shall respond to the clarification request as soon as I
receive it.
Thank you
answerfinder

Search strategy
Variations of ?yankee clipper? sheraton starwood on LexisNexis and
various search engines.
Archive search of Daily Business Review.